According to ChainCatcher, citing Livecoins, the Finance and Taxation Committee (CFT) of Brazil’s Chamber of Deputies has approved a bill aimed at punishing cyber fraud. The proposal authorizes the freezing of cryptocurrency balances belonging to individuals under police investigation and also seeks to amend relevant provisions of the Criminal Code to increase penalties for cybercriminals.
Under the bill, crimes committed through social media or by telephone would face harsher punishment. Individuals convicted of cyberattack offenses would be sentenced to six to ten years in prison, compared with the previous range of four to eight years. Judges would also be empowered to freeze assets held by suspects on Bitcoin exchanges and in bank accounts.
The report also states that preventive measures include freezing physical assets and prohibiting the use of payment systems. The bill will next be submitted to the Constitution and Justice Committee (CCJ) for review, with the review expected to be completed in the coming days.